California State Teachers Retirement System Sells 3,587 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

California State Teachers Retirement System cut its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 150,686 shares of the casino operator’s stock after selling 3,587 shares during the period. California State Teachers Retirement System’s holdings in Wynn Resorts were worth $15,405,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Blue Trust Inc. boosted its position in shares of Wynn Resorts by 3,000.0% in the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after purchasing an additional 270 shares during the period. ICA Group Wealth Management LLC purchased a new position in shares of Wynn Resorts in the fourth quarter worth $27,000. Register Financial Advisors LLC purchased a new position in Wynn Resorts during the first quarter valued at $37,000. GAMMA Investing LLC bought a new stake in Wynn Resorts in the 4th quarter valued at $38,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Wynn Resorts by 1,083.8% during the 4th quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator’s stock valued at $40,000 after purchasing an additional 401 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Analysts Set New Price Targets

WYNN has been the subject of a number of research reports. StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, July 18th. Mizuho assumed coverage on shares of Wynn Resorts in a research note on Thursday, April 4th. They issued a “buy” rating and a $131.00 price objective for the company. Barclays upped their target price on shares of Wynn Resorts from $124.00 to $128.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on Wynn Resorts from $132.00 to $131.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Stifel Nicolaus lifted their target price on Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.53.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $76.64 on Friday. The firm’s 50 day simple moving average is $87.87 and its 200-day simple moving average is $95.51. Wynn Resorts, Limited has a one year low of $75.89 and a one year high of $110.38. The firm has a market cap of $8.59 billion, a PE ratio of 10.78 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, topping the consensus estimate of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the business posted $0.29 EPS. Wynn Resorts’s quarterly revenue was up 30.9% on a year-over-year basis. Equities research analysts predict that Wynn Resorts, Limited will post 5.62 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Friday, May 17th. Wynn Resorts’s dividend payout ratio (DPR) is 13.70%.

Insider Activity

In other news, Director Betsy S. Atkins sold 2,446 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total transaction of $230,877.94. Following the transaction, the director now directly owns 9,226 shares in the company, valued at $870,842.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.52% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.